Top Buys by Top Brass: Chief Executive Officer Dussek's $296.8K Bet on NIHD
A company’s own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ”top brass” over the trailing six month period, one of which was a total of $296.8K by Steven P. Dussek, Chief Executive Officer at NII Holdings Inc. (NASD: NIHD).
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Dussek bets big on NIHD:
Purchased Insider Title Shares Price/Share Value
09/19/2012 Steven P. Dussek Chief Executive Officer 42,402 $7.00 $296,813.50
Dussek’s average cost works out to $7.00/share. In trading on Tuesday, bargain hunters could buy shares of NII Holdings Inc. (NASD: NIHD) and achieve a cost basis lower than Dussek, with shares changing hands as low as $6.33 per share. Shares of NII Holdings Inc. were changing hands at $6.43 at last check, trading off about 5.9% on Tuesday. The chart below shows the one year performance of NIHD shares, versus its 200 day moving average: